Jefferies Financial Group Inc. (JEF) 10-Year Financial Performance & Capital Metrics

JEF • • Banking & Credit

Financial ServicesCapital MarketsInvestment Banking & AdvisoryFull-Service Investment Banks

AboutJefferies Financial Group Inc. engages in the investment banking and capital markets, and asset management businesses in the Americas, Europe, the Middle East, Africa, and Asia. The company operates in Investment Banking and Capital Markets, Asset Management, Merchant Banking, and Corporate segments. It provides investment banking, advisory services with respect to mergers or acquisitions, restructurings or recapitalizations and private capital advisory transactions; equity and debt underwriting; and corporate lending. In addition, the company offers financing, securities lending, and other prime brokerage services; equities research and finance; and wealth management services. Further, it provides clients with sales and trading of investment grade corporate bonds, U.S. and European government and agency securities, municipal bonds, mortgage-backed and asset-backed securities, leveraged loans, consumer loans, high yield and distressed securities, emerging markets debt, interest rate, and credit derivative products, as well as foreign exchange trade execution and securitization; and manages, invests in, and provides services to a diverse group of alternative asset management platforms across a spectrum of investment strategies and asset classes. The company was formerly known as Leucadia National Corporation and changed its name to Jefferies Financial Group Inc. in May 2018. Jefferies Financial Group Inc. was founded in 1962 and is headquartered in New York, New York.Show more

Net Interest Income -$3.48B -27.0%
Total Revenue $10.52B +41.3%
Net Income $743M +167.7%
Return on Equity 7.42% +170.4%
Net Interest Margin -5.41% -14.2%
Efficiency Ratio 14.3% -11.3%
ROA 1.22% +138.6%
Equity / Assets 15.89% -6.1%
Book Value per Share 45.72 +10.4%
Tangible BV/Share 36.54 +11.4%
Debt/Equity 1.99 +21.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 14.3% efficiency ratio
✓Well capitalized: 15.9% equity/assets
✓Healthy dividend yield of 2.2%
✓Share count reduced 5.5% through buybacks
✓Diversified revenue: 100.0% from non-interest income
✓Trading at only 1.4x book value

✗Weaknesses

✗Weak NIM of -5.4%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-1.58%

5Y14.43%

3Y5.54%

TTM-

Profit (Net Income) CAGR

10Y13.56%

5Y-5.08%

3Y-23.71%

TTM0.62%

EPS CAGR

10Y18.67%

5Y-0.27%

3Y-21.28%

TTM0.34%

ROCE

10Y Avg6.69%

5Y Avg7.72%

3Y Avg7.76%

Latest9.6%

Peer Comparison

Full-Service Investment Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
GSThe Goldman Sachs Group, Inc.	281.38B	938.15	23.14	17%	11.25%	12.59%	5.06
MSMorgan Stanley	290.46B	182.76	22.99	16.83%	12.98%	14.57%	3.42
JEFJefferies Financial Group Inc.	12.82B	62.12	20.78	41.3%	7.07%	7.12%	1.99
MS-PQMorgan Stanley		26.27	3.30	16.83%	12.98%	14.61%	3.42
SFBStifel Financial Corporation 5.20% Senior Notes due 2047		20.50	3.28	37.64%	12.29%	11.53%	0.37
NMRNomura Holdings, Inc.	27.08B	9.23	0.08	13.42%	7.56%	10.49%	8.75

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Nov 2018	Nov 2019	Nov 2020	Nov 2021	Nov 2022	Nov 2023	Nov 2024
Net Interest Income+	-797.47M	-812.64M	-971.46M	0	-1.47B	-945.06M	-931.64M	-1.17B	-2.74B	-3.48B
NII Growth %	0.06%	-0.02%	-0.2%	1%	-	0.36%	0.01%	-0.26%	-1.34%	-0.27%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	797.47M	812.64M	971.46M	0	1.47B	945.06M	931.64M	1.17B	2.74B	3.48B
Loan Loss Provision	8.86B	1.48B	1.54B	0	989.17M	2.69B	3.4B	2.21B	190.43M	818.33M
Non-Interest Income+	11.68B	3.85B	5.05B	0	5.36B	6.96B	8.95B	7.15B	7.44B	10.52B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	11.68B	3.85B	5.05B	0	5.36B	6.96B	8.95B	7.15B	7.44B	10.52B
Revenue Growth %	-0.05%	-0.67%	0.31%	-1%	-	0.3%	0.29%	-0.2%	0.04%	0.41%
Non-Interest Expense	981.92M	914.24M	888.45M	0	1.16B	1.24B	1.09B	1.16B	1.2B	1.5B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.04B	645.45M	1.65B	0	1.74B	2.09B	3.52B	2.61B	3.31B	4.71B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.04%	-0.38%	1.56%	-1%	-	0.2%	0.69%	-0.26%	0.27%	0.42%
Pretax Income+	356.54M	-12.59M	606.5M	0	478.61M	1.07B	2.25B	1.06B	354.27M	1.01B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	109.95M	25.77M	642.29M	0	-483.95M	298.67M	576.73M	273.85M	91.88M	293.19M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	283.65M	130M	171.73M	0	964.7M	775.24M	1.67B	785.45M	277.69M	743.38M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.36%	-0.54%	0.32%	-1%	-	-0.2%	1.16%	-0.53%	-0.65%	1.68%
Net Income (Continuing)	246.59M	-38.37M	-35.78M	0	962.56M	768.41M	1.68B	781.71M	262.39M	712.35M
EPS (Diluted)+	0.74	0.34	0.45	0.52	3.03	2.65	6.13	3.06	1.10	2.99
EPS Growth %	0.37%	-0.54%	0.32%	0.16%	4.83%	-0.13%	1.31%	-0.5%	-0.64%	1.72%
EPS (Basic)	0.74	0.34	0.45	0.52	3.07	2.68	6.29	3.13	1.12	3.08
Diluted Shares Outstanding	372.43M	371.52M	370.7M	351.27M	317.03M	290.49M	271.5M	255.57M	236.62M	223.65M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Nov 2018	Nov 2019	Nov 2020	Nov 2021	Nov 2022	Nov 2023	Nov 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	3.64B	3.81B	5.28B	5.97B	7.68B	9.06B	10.76B	9.7B	8.53B	12.15B
Short Term Investments	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Total Investments+	29.93B	27.41B	28.21B	30.61B	28.82B	30.16B	19.35B	14.94B	17.73B	19.09B
Investments Growth %	-0.07%	-0.08%	0.03%	0.09%	-0.06%	0.05%	-0.36%	-0.23%	0.19%	0.08%
Long-Term Investments	11.43B	12.12B	11.41B	6.61B	28.82B	30.16B	19.35B	14.94B	17.73B	19.09B
Accounts Receivables	1000K	1000K	1000K	0	1000K	0	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.74B	1.72B	1.72B	1.7B	1.74B	1.75B	1.75B	1.74B	1.85B	1.83B
Intangible Assets	912.02M	797.96M	741.03M	188.29M	182.95M	167.15M	152.4M	139.46M	196.92M	226.37M
PP&E (Net)	721.88M	709.24M	750.4M	351M	385.03M	897.2M	911.23M	906.86M	1.07B	1.19B
Other Assets	1.19B	1.64B	1.66B	34.4B	1.99B	2.19B	3.2B	2.42B	2.21B	2.42B
Total Current Assets	28.77B	26.63B	30.14B	5.26B	15.88B	17.96B	30.74B	30.91B	34.85B	39.61B
Total Non-Current Assets	17.56B	18.44B	17.03B	41.87B	33.58B	35.16B	25.37B	20.15B	23.05B	24.76B
Total Assets+	46.33B	45.07B	47.17B	47.13B	49.46B	53.12B	56.11B	51.06B	57.91B	64.36B
Asset Growth %	-0.12%	-0.03%	0.05%	-0%	0.05%	0.07%	0.06%	-0.09%	0.13%	0.11%
Return on Assets (ROA)	0.01%	0%	0%	-	0.02%	0.02%	0.03%	0.01%	0.01%	0.01%
Accounts Payable	7.11B	7.37B	7.17B	71.98M	8.18B	10.39B	8.41B	6.21B	7.7B	7.76B
Total Debt+	20.69B	17.52B	19.83B	1.18B	17.92B	19.83B	11.42B	13.72B	16.09B	20.36B
Net Debt	17.05B	13.71B	14.55B	-4.78B	10.24B	10.77B	666.49M	4.02B	7.57B	8.21B
Long-Term Debt	10.41B	10.2B	10.73B	8.92B	9.86B	10.16B	10.65B	12.66B	14.56B	19.29B
Short-Term Debt	10.28B	7.32B	9.1B	0	8.05B	9.08B	221.86M	528.39M	989.72M	443.16M
Other Liabilities	1.03B	1.15B	1.15B	0	13.74B	13.44B	22.33B	18.25B	20.59B	22.5B
Total Current Liabilities	24.23B	23.08B	24.72B	27.79B	16.23B	19.47B	11.97B	9.31B	12.41B	11.71B
Total Non-Current Liabilities	11.45B	11.35B	11.88B	8.92B	23.6B	24.19B	33.53B	31.45B	35.69B	42.42B
Total Liabilities	35.67B	34.31B	36.6B	307.51M	39.71B	43.53B	45.38B	40.63B	48.1B	54.13B
Total Equity+	10.66B	10.77B	10.57B	47.17B	9.75B	9.59B	10.73B	10.43B	9.8B	10.23B
Equity Growth %	0.01%	0.01%	-0.02%	3.46%	-0.79%	-0.02%	0.12%	-0.03%	-0.06%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.03%	0.01%	0.02%	-	0.03%	0.08%	0.16%	0.07%	0.03%	0.07%
Book Value per Share	28.62	28.98	28.50	134.28	30.76	33.01	39.52	40.80	41.43	45.72
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	362.62M	359.43M	356.23M	307.51M	291.64M	249.75M	243.54M	226.13M	210.63M	205.5M
Additional Paid-in Capital	4.99B	4.81B	4.68B	3.85B	3.63B	2.91B	2.74B	1.97B	2.04B	2.1B
Retained Earnings	4.61B	4.65B	4.7B	10.06B	5.93B	6.53B	7.94B	8.42B	7.85B	8.27B
Accumulated OCI	438.79M	310.7M	372.72M	10.1B	-273.04M	-288.92M	-372.14M	-379.42M	-395.55M	-423.13M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	125M	125M	125M	5.61B	125M	125M	125M	125M	42K	55K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Nov 2018	Nov 2019	Nov 2020	Nov 2021	Nov 2022	Nov 2023	Nov 2024
Cash from Operations+	-761.75M	572.41M	788.29M	-82.79M	-827.84M	2.08B	1.58B	1.8B	-1.93B	-209.25M
Operating CF Growth %	0.23%	1.75%	0.38%	-1.11%	-9%	3.51%	-0.24%	0.14%	-2.07%	0.89%
Net Income	244.28M	194.32M	252.85M	270.21M	962.56M	768.41M	1.68B	781.71M	262.39M	716.02M
Depreciation & Amortization	172.07M	71.61M	64.76M	131.25M	129.77M	142.39M	144.25M	189.34M	113.47M	197.85M
Deferred Taxes	134.02M	118.63M	712.05M	0	-538.19M	64.67M	96.89M	-70.4M	10.46M	-4.13M
Other Non-Cash Items	-69.32M	191.35M	119.13M	-149.34M	17.87M	489.81M	-72.05M	-755.05M	217.76M	162.81M
Working Capital Changes	-1.32B	-37.09M	-408.88M	-387.55M	-1.45B	570.63M	-342.34M	1.62B	-2.58B	-1.34B
Cash from Investing+	781.16M	-636.22M	-54.63M	142.44M	1.71B	-186.19M	-409.87M	-60.54M	-12.2M	210.31M
Purchase of Investments	-873.83M	-739.3M	-1.15B	-5.38B	-3M	-906K	-2.34B	-351.64M	-251.75M	-1.08B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-16.51M	-10M	441.74M	114.05M	890.79M	179.65M	0	310.04M	215.19M	610.84M
Other Investing	-343.88M	-276M	-14.28M	755.24M	-392.75M	-210.97M	2.09B	201.78M	25.52M	930.41M
Cash from Financing+	-651.98M	230.91M	434.8M	133.13M	1.59B	-723.52M	994.29M	-2.84B	1.06B	3.35B
Dividends Paid	-92.55M	-91.3M	-117.41M	-151.76M	-149.65M	-160.94M	-222.8M	-280.1M	-278.6M	-302.96M
Share Repurchases	-125.75M	-95.02M	-100.48M	-1.13B	-509.91M	-816.87M	-269.4M	-859.59M	-169.4M	-44.31M
Stock Issued	1.22M	1.06M	1.5M	3.61M	1.11M	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	1000K	1000K
Other Financing	14.11M	-80.07M	-140.08M	113.48M	1.87M	18.96M	-10.13M	65M	6.06M	-167.9M
Net Change in Cash+	-638.13M	134.4M	1.18B	238.16M	2.47B	1.18B	2.16B	-1.12B	-876.49M	3.33B
Exchange Rate Effect	-1000K	-1000K	1000K	1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	4.28B	4.46B	4.6B	5.77B	6.01B	8.48B	9.66B	11.83B	10.71B	9.83B
Cash at End	3.64B	4.6B	5.77B	6.01B	8.48B	9.66B	11.83B	10.71B	9.83B	13.17B
Interest Paid	980.27M	0	1.12B	0	1.56B	1.08B	936.27M	1.16B	2.35B	3.44B
Income Taxes Paid	510K	0	15.36M	0	24.59M	25K	727.13M	214.07M	159.36M	257.5M
Free Cash Flow+	-1.06B	315.75M	665.27M	-408.45M	-1.06B	1.9B	1.42B	1.58B	-1.93B	-459.84M
FCF Growth %	0.33%	1.3%	1.11%	-1.61%	-1.6%	2.79%	-0.25%	0.12%	-2.22%	0.76%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	2.67%	1.21%	1.61%	-	3.39%	8.02%	16.48%	7.42%	2.75%	7.42%
Return on Assets (ROA)	0.57%	0.28%	0.37%	-	2%	1.51%	3.07%	1.47%	0.51%	1.22%
Net Interest Margin	-1.72%	-1.8%	-2.06%	0%	-2.96%	-1.78%	-1.66%	-2.29%	-4.73%	-5.41%
Efficiency Ratio	8.4%	23.76%	17.6%	-	21.69%	17.79%	12.24%	16.2%	16.13%	14.3%
Equity / Assets	23%	23.89%	22.4%	100.08%	19.72%	18.05%	19.12%	20.42%	16.93%	15.89%
Book Value / Share	28.62	28.98	28.5	134.28	30.76	33.01	39.52	40.8	41.43	45.72
NII Growth	6.01%	-1.9%	-19.54%	100%	-	35.52%	1.42%	-25.63%	-134.19%	-26.97%
Dividend Payout	32.63%	70.23%	68.37%	-	15.51%	20.76%	13.31%	35.66%	100.33%	40.75%

Revenue by Segment

	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024
Interest Revenue	-	-	-	-	1.6B	-	-	1.18B	2.87B	3.54B
Interest Revenue Growth	-	-	-	-	-	-	-	-	142.36%	23.52%
Investment Banking	-	-	-	-	1.53B	-	-	2.81B	2.17B	3.31B
Investment Banking Growth	-	-	-	-	-	-	-	-	-22.74%	52.54%
Principal Transactions Revenue	-	-	-	-	-	-	-	833.76M	1.41B	1.82B
Principal Transactions Revenue Growth	-	-	-	-	-	-	-	-	69.51%	28.56%
Commissions And Other Fees	-	-	-	-	-	-	-	925.49M	905.66M	1.09B
Commissions And Other Fees Growth	-	-	-	-	-	-	-	-	-2.14%	19.84%
Product and Service, Other	-	-	-	-	-	-	-	1.32B	53.2M	674.09M
Product and Service, Other Growth	-	-	-	-	-	-	-	-	-95.96%	1167.07%
Other Sources Of Revenue, Miscellaneous	-	-	-	-	-	-	-	332.27M	-122.47M	254.78M
Other Sources Of Revenue, Miscellaneous Growth	-	-	-	-	-	-	-	-	-136.86%	308.03%
Real Estate	-	-	-	-	-	-	-	223.32M	44.83M	119.05M
Real Estate Growth	-	-	-	-	-	-	-	-	-79.93%	165.59%
Asset Management	-	-	-	-	-	14.7M	14.84M	80.26M	82.57M	86.11M
Asset Management Growth	-	-	-	-	-	-	0.92%	440.97%	2.88%	4.28%
Oil and Gas	-	-	-	-	-	-	-	302.13M	26.28M	1.12M
Oil and Gas Growth	-	-	-	-	-	-	-	-	-91.30%	-95.74%
Product	-	-	-	-	-	-	-	412.61M	-	-
Product Growth	-	-	-	-	-	-	-	-	-	-
Investment Banking, Underwriting	-	-	-	-	-	1.45B	2.49B	-	-	-
Investment Banking, Underwriting Growth	-	-	-	-	-	-	72.11%	-	-	-
Investment Banking, Advisory	-	-	-	-	-	1.05B	1.87B	-	-	-
Investment Banking, Advisory Growth	-	-	-	-	-	-	77.84%	-	-	-
Equities	-	-	-	-	-	806.34M	881.66M	-	-	-
Equities Growth	-	-	-	-	-	-	9.34%	-	-	-
Manufacturing Revenues	-	-	-	-	324.66M	421.43M	538.63M	-	-	-
Manufacturing Revenues Growth	-	-	-	-	-	29.81%	27.81%	-	-	-
Oil And Gas Production And Development Revenues	-	-	-	-	-	102.21M	182.97M	-	-	-
Oil And Gas Production And Development Revenues Growth	-	-	-	-	-	-	79.02%	-	-	-
Revenue From Contract With Customer, Miscellaneous	-	-	-	-	-	61.14M	143.65M	-	-	-
Revenue From Contract With Customer, Miscellaneous Growth	-	-	-	-	-	-	134.96%	-	-	-
Fixed Income Services	-	-	-	-	-	15.91M	14.36M	-	-	-
Fixed Income Services Growth	-	-	-	-	-	-	-9.76%	-	-	-
Commission And Other Fees	-	-	-	-	675.77M	-	-	-	-	-
Commission And Other Fees Growth	-	-	-	-	-	-	-	-	-	-
National Beef	7.83B	7.4B	7.03B	7.36B	-	-	-	-	-	-
National Beef Growth	-	-5.49%	-5.07%	4.72%	-	-	-	-	-	-
Jefferies Group LLC	-	2.48B	2.42B	3.21B	-	-	-	-	-	-
Jefferies Group LLC Growth	-	-	-2.22%	32.47%	-	-	-	-	-	-
Corporate and Other	-	78.12M	88.59M	62.85M	-	-	-	-	-	-
Corporate and Other Growth	-	-	13.40%	-29.06%	-	-	-	-	-	-
Reportable	10.88B	9.96B	-	-	-	-	-	-	-	-
Reportable Growth	-	-8.48%	-	-	-	-	-	-	-	-
All Other	-	950.78M	-	-	-	-	-	-	-	-
All Other Growth	-	-	-	-	-	-	-	-	-	-
Jefferies Group Inc	2.99B	-	-	-	-	-	-	-	-	-
Jefferies Group Inc Growth	-	-	-	-	-	-	-	-	-	-
Corporate And Other	60.72M	-	-	-	-	-	-	-	-	-
Corporate And Other Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024
Americas	2.26B	1.89B	1.88B	2.61B	2.33B	4.87B	6.8B	4.82B	3.63B	4.95B
Americas Growth	-	-16.39%	-0.59%	39.16%	-10.78%	109.06%	39.49%	-29.13%	-24.71%	36.59%
Europe	634.36M	510.04M	458.05M	489.58M	-	853.67M	1.11B	925.4M	775.9M	1.06B
Europe Growth	-	-19.60%	-10.19%	6.89%	-	-	30.19%	-16.74%	-16.16%	36.27%
Asia Pacific	-	-	-	-	-	285.89M	278.87M	249.73M	298.9M	505M
Asia Pacific Growth	-	-	-	-	-	-	-2.46%	-10.45%	19.69%	68.95%
EMEA	-	-	-	-	380.51M	-	-	-	-	-
EMEA Growth	-	-	-	-	-	-	-	-	-	-
Asia	94.1M	78.19M	86.21M	105.78M	79.46M	-	-	-	-	-
Asia Growth	-	-16.90%	10.26%	22.70%	-24.88%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Jefferies Financial Group Inc. (JEF) has a price-to-earnings (P/E) ratio of 20.8x. This is roughly in line with market averages.

Growth & Financials

Jefferies Financial Group Inc. (JEF) grew revenue by 41.3% over the past year. This is strong growth.

Yes, Jefferies Financial Group Inc. (JEF) is profitable, generating $748.0M in net income for fiscal year 2024 (7.1% net margin).

Dividend & Returns

Yes, Jefferies Financial Group Inc. (JEF) pays a dividend with a yield of 2.18%. This makes it attractive for income-focused investors.

Jefferies Financial Group Inc. (JEF) has a return on equity (ROE) of 7.4%. This is below average, suggesting room for improvement.

Industry Metrics

Jefferies Financial Group Inc. (JEF) has a net interest margin (NIM) of -5.4%. NIM has been under pressure due to interest rate environment.

Jefferies Financial Group Inc. (JEF) has an efficiency ratio of 14.3%. This is excellent, indicating strong cost control.

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